MCA Relaxations Due to COVID-19 Pandemic

Last Updated On: May 4, 2021, 9:32 p.m.
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MCA RELAXATIONS DUE TO COVID-19 PANDEMIC

I. RELAXATION ON LEVY OF ADDITIONAL FEE ON E-FORMS UNDER COMPANIES ACT, 2013 AND LIMITED LIABILITY PARTNERSHIP ACT, 2008

In view of resurgence of COVID-19 pandemic, Ministry of Corporate Affairs ('MCA') vide its Circular No. 06/2021 dated 03.05.2021 (Click Here) has granted relaxation on levy of additional fee on filing of e-forms as detailed below: a.

 

a. Relaxation

MCA has waived off the additional fee payable on filing of e-forms by Company and/or LLP up to 31.07.2021 which were/would be due for filing during 01.04.2021 to 31.05.2021.

b. Forms covered under relaxation

All forms to be filed by Company and/or LLP, except Form CHG-1, CHG-4 and CHG-9, are covered under the relaxation.

It may be noted that for MCA vide its separated circular of even date (Click Here) has also relaxed the time for filing of Form CHG-1, CHG-9 for creation or modification of Charge.  

c. Period covered under relaxation

No additional fee shall be levied up to 31.07.2021 on the e-forms which were/would be due for filing during 01.04.2021 to 31.05.2021. It may be noted that this relaxation have the retrospective effect and the e-forms whose due date was on or after 01.04.2021 and has not been filed by Company / LLP, the same shall also be covered under the relaxation.

II. RELAXATION OF TIME GAP BETWEEN 2 (TWO) CONSECUTIVE MEETINGS

As per Section 173 of Companies Act, 2013, every company shall hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than one hundred and twenty days shall intervene between two consecutive meetings of the Board.

MCA vide its Circular No. 08/2021 dated 03.05.2021 (Click Here) relaxed intervening time gap between 2 (two) consecutive meetings as detailed below:

a. Relaxation

The time gap between two board meetings has been relaxed by 60 days i.e. from 120 days to 180 days.

b. Period covered under relaxation

All board meetings whose due date of 120 days are falling during the April to June'2021 quarter and July to September'2021 quarter have been relaxed by another 60 days However, it should be noted that the requirement of holding 4 board meetings during the year have not been relaxed, therefore, the board meetings should be planned in such a manner that the Company should be in compliance of holding at least 4 board meetings during the year.

 

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